I would extend that to include behavior. Getting spannered at a frat party is hardly in good taste, whereas a glass too many at afternoon tea is, assuming you're able to limit the effects to a giggle.

Similarly taking a bite of food, then a sip of a drink, and then chewing with a semi -open mouth is in extreme bad taste.

We aren't just the art we wear or aquire. Our tastes position us in a social heireachy.